Nkarta Inc (NKTX)

[INV4]

Nkarta's Stock Climbs 28% After FDA Approves Drug Application

Nkarta's shares rallied after the company said its investigational new drug application for NKX019, a treatment for lupus nephritis, was approved by the U.S. Food and Drug Administration.

The stock climbed 28% to $1.89 in late morning trading Tuesday. The stock hit a 52-week low of $1.28 earlier this month, and the shares are down 69% this year.

The company said its multi-center, open label, dose escalation clinical trial will assess the safety and clinical activity of NKX019 in patients with refractory lupus nephritis.

Nkarta, a biopharmaceutical company based in South San Francisco, Calif., said it is a developer of engineered natural killer cell therapies.

Lupus nephritis is a form of systemic lupus erythematosus, and is developed by about 40% of the estimated 200,000 people in the U.S. diagnosed with the disease. Of that group, 30% will develop end stage kidney disease, which can be fatal unless they receive dialysis or a kidney transplant.

https://ih.advfn.com/stock-market/NASDAQ/nkarta-NKTX/stock-news/92295683/nkartas-stock-climbs-28-after-fda-approves-drug-a

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